Recently, I had the privilege of attending RSA’s cyber security seminar in San Francisco, CA, the seminar was held from February 13th to the 17th. Furthermore, some of the top cyber experts in the industry were available afterwards, to answer one-on-one questions. Even though, the one-on-one was not a part of my package, I still learned some valuable information for the seminar. For example, the seminar devoted a few hours to internet banking and provided the banking industry with tips on how to thwart attacks and what forms those attacks might come in. After the seminar concluded, I went to grab a quick bite to eat in the hotel restaurant, before catching my flight back. Thus, I was excited to share all the information I learned with my …show more content…
Furthermore, fraudsters use social engineering to deceive the bank customers and gain access to sensitive online credentials (Schneider, 2013, p. 480). Unfortunately, fraudsters use phishing to hold clients’ customer data through making phone calls or sending emails to determine information on the payment cards. Moreover, the information obtained through phishing enables the fraudsters to obtain access and make withdrawals, thus forging the customers’ identity. For example, backdoor programs, such as Cart32, steal customer data (Schneider, 2013, p.430). Therefore, phishing not only impacts negatively internet banking but also poses threats to the bank payment system.
According to Schneider (2013), the phishing scheme involves the fraudsters using stenography in spoofed emails to lead bank customers to a prototype of their bank’s websites that look legitimate. However, the fake website would be designed to steal their information (p. 427). Thus, the websites save customers financial information through coaxing bank customers to learn their credit card numbers and social security numbers. Moreover, the fraudsters may use advertisements or deliver emails that appear to be sent by IB bank. Further, the advertisements contain website links that replicate customers’ bank’s website. Moreover, fraudsters may use mobile communication to ask bank customers about the information concerning their banks
Identity theft is the stealing and use of someone’s personal information and is one of the fastest growing crimes in the nation (Dole, 2005). According to Federal Trade Commission estimates, identity thieves victimize approximately 10 million Americans every year at a cost of an astonishing $50 billion (2005). Identity theft has been going on for years now and is easily done with the help of today’s technology. According to the Federal Trade Commission, there are six common ways that identity thieves get a hold of personal information. The varieties of methods that are used are dumpster diving, skimming, phishing, changing the victim’s address, stealing, and pretexting (Federal Trade Commission). Once someone’s identity is stolen,
Banking sector is the most susceptible sector regarding the breach of internet security as monetary transactions are there. This may contain sensitive data. It may pose some serious security concerns if data goes public. Fraud is a global occurrence that exploits the security gaps. It also possesses and targets banks which have less sophisticated security infrastructure. To prevent and deter fraud, banks must regularly upgrade its infrastructure. Several types of security breaches
(April 2015) today our financial and personal information is everywhere. It is in our phones for mobile payments, in our wallets on our credit cards and in the data centers and clouds of the companies and third parties that complete transactions on our behalf. With so much personal information—quite literally—floating around various access points, it has never been more lucrative or easy for cyber-criminals to access and mine private information to sell on the black market.The Target data breach at the end of 2013, which affected the card payment information of more than 40 million shoppers and the personal data of almost 70 million consumers, kick-started a continuous barrage of point-of-sale (POS) attacks affecting consumers, businesses and banks throughout 2014. Between the breaches at Dairy Queen, Home Depot and Neiman Marcus, it seemed like cyber-criminals were always one step ahead of the game, using malware and card-skimming techniques to gain access to confidential
In December 2013, Target announced that massive amounts of credit and debit card information they collected over the years might be in the danger of theft. The credit card breach could affect as many as 70 million customers who swept cards in the retail stores or linked their cards with the membership card, the RedCard. Each card information contains a card number, holder’s name, address, phone number and etc. The more information the thieves got, the more conveniently the thieves could use them to get benefits from the card holders. Jia Lynn Yang and Amrita Jayakumar, the authors of “Target says up to 70 million more customers were hit by December data breach”, write about how bad people will use customers’ information to crime. These thieves possibly shop online by inserting the card information. They could also contact with the victims to gather more sensitive information, and even hack into their computers. This event forces us to seriously consider the crisis in how retails protect customers’ data (Yang &
In my high school, there is this club, team, or however you wish to reference it as, that allows one or a group to stop hackers from potentially from accessing important data stored on your technological device. We call this individual or group the cybersecurity specialist or team. These types of people who work in the cybersecurity field is a vital part of society today, especially from the constant cyber attacks businesses and corporations are receiving. Cyber wars is just the beginning. In order to prevent these mishaps, cybersecurity specialists will use preventive measures to strike back, and win this war. However, in order to do so, cybersecurity classes, clubs, or teams should be established in high schools to prevent all these attacks.
Identity theft is one of the growing crimes in the United States due to the fact people do not know how to properly protect themselves against it. Criminals use different methods to acquire the information necessary to steal someone’s identity. Some of the techniques used to commit identity theft are; stealing wallets, acquiring bank information or pilfering through trash to find documents containing PII (FBI, n.d.). Nowadays criminals are able to steal people’s identity using different procedures over the internet without having to compromise their identity. Some of the methods are social engineering, phishing, sending spam messages and malware (OLI, 2013). Criminals use these methods because with the use of technology, identity theft could be accomplished anonymously and without much effort. Also because people lower their guard about securing their personally identifiable information when using the internet, especially when using social networks, they become easy targets to
Online shopping has become a lifesaver for many consumer providing conveniences; convenience sells. Today’s consumers expect to see a company’s presence online with the top social media tools including Facebook and Twitter. With the advancements in mobile technology, consumers can make purchases with the click of a few keystrokes on their smartphone. These purchases require customers to enter in their personal information, including mailing address, email and banking information. Entering this information online can open customers up to the threat of hackers stealing their personal information including their bank account information.
In this paper, I will identify security threats that Bank of America faces today. In addition, I will describe the techniques and processes used to identify the vulnerabilities and threats, describe risks to the information and related vulnerabilities within Bank of America when utilizing components of the web. Discussions on BoA safeguard against legal issues will be addressed followed by the types of social data that potentially cause problems for this bank institute. In conclusion, I will explain the legal, ethical, and regulatory requirements Bank of America utilize for the protection of the organization.
In an attempt to mitigate potential attacks on its customers’ environments related to the stolen information, RSA outlined nine steps customers could take to harden their IT infrastructures and reduce their chances of being breached (Gov InfoSecurity). While the recommended steps were followed by defense contractor Lockheed Martin, they were later breached in an attack related to the initial RSA breach
The evolution of technology has enabled criminals a new form of prey. This problem is known as identity theft or identity fraud. The development and growth of the world wide web and personal computers being have made everyday things easier for everyone, but have also made it easier for criminals to gain access to information needed to steel someone’s identity. This is a crime which cost people thousands of dollars and countless hours of time spent to regain their losses and the damages done by having their life turned upside down by identity theft. Albrecht(2016). This paper will discuss just how big of a problem identity theft is, a few of the typical types of identity theft, possible preventative actions that should be taken to avoid identity theft, and the actions a person having identity stolen should take once they realize they have been compromised. The main thing that seems to have to be done is preventative measures by both the potential victims and creditors to keep information private so thieves cannot get the access in the first place. The more difficult that you make it to get to your information the less likely you are going to be victimized. Albrecht(2016).
Technology has really changed the ways of paying, we can easily buy something online by clicking one bottom of our smartphone, or purchasing a car by swiping our credit card. In another word, modern day financial and identical information are just bunch numbers and letters stored in the digital world. Unlike our unique appearances or finger prints, the numerical information such as our password, credit card numbers and social security numbers can be used for financial gain by some criminals, the identity theft. The United States Department of Justice defines Identity theft as “all types of crime in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception,
Computer Identity theft has affected over 10 million Americans every year because of the poor protection protocols being used nationwide. According to the Aberdeen group over 220 billion dollars have been loss every year due to identity theft. As the use of the internet and technology grows more prevalent in our society the amount of people who are affected by identity theft grows too. Identity theft and fraud have been defined by The United States Department of Criminal Justice as “Terms used to refer to all types of crime in which someone wrongfully obtains and uses another person's personal data in some way that involves fraud or deception, typically for economic gain” (Weissmann, “Identity Theft and Identity Fraud”). The effects of Identity theft has left many individuals continuously searching for ways to protect their information, and has caused many to have maxed out credit cards, bad credit rating, empty bank accounts and criminal records.
In this day and age, the threat of identity theft for the common individual has increased drastically. With advancements in technology and the ever growing power of the internet, identity thieves can rob personal information from unsuspecting victims quickly and easily. Identity theft, though existing before the creation of the internet, has morphed into a particular type of cyber crime. Perpetrators engage in social engineering fraud to access the personal data, passwords, or financial information. Criminals betray unknowing victims trust through email, social networking sites, but also use malware to access information, or hack into emails or computers. Techniques range from the recovery of data from insecurely disposed
Fraud can occur in many ways, either through the loss of a credit card or through other fraudulent applications by the perpetrator. We also describe the perpetrators along with some characteristics common to fraudsters. The hope in this paper is to build more awareness to the reader about this growing problem and to offer insight which will aid individuals and merchants from becoming victims of credit card fraud.
From my course instruction and indoctrination at the Academy to operating in the Sea of Japan, my exposure to the core tenets of the information security discipline has gone from unpacking what is taught in the classroom to applying it on the U.S Navy’s most capable warship.